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From China to Singapore: Perennial banks on eldercare for growth

Rates at its new assisted-living facility are high, but the group’s CEO hopes to refine the model and lower them over time

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Ry-Anne Lim

Ry-Anne Lim

Published Thu, Aug 28, 2025 · 12:00 PM
    • Perennial Holdings CEO Pua Seck Guan says: "Singapore is a very difficult place to make money. Our main business is outside (the country), but we have done so much, learned so much. What we hope to do is bring the skill set and create (a similar model here).”
    • Perennial Holdings on Thursday launched its first private assisted-living development in Singapore at Parry Avenue.
    • Perennial Holdings CEO Pua Seck Guan says: "Singapore is a very difficult place to make money. Our main business is outside (the country), but we have done so much, learned so much. What we hope to do is bring the skill set and create (a similar model here).” PHOTO: ST
    • Perennial Holdings on Thursday launched its first private assisted-living development in Singapore at Parry Avenue. ILLUSTRATION: PERENNIAL

    [SINGAPORE] Perennial Holdings on Thursday (Aug 28) made its move into Singapore’s eldercare sector with the opening of Perennial Living, a pilot project in assisted living which chief executive officer Pua Seck Guan hopes will pave the way for a new growth market. 

    The Parry Avenue project will comprise 200 assisted-living apartments, a nursing home with 100 beds in either private one-bed or two-bed suites, and a rehabilitation, medical and wellness centre.

    Pua told The Business Times that the group hopes to achieve an occupancy rate of 70 to 80 per cent in the project’s first year. 

    Perennial HoldingsHealthcareHealthcare costsChinaAsia-PacificSingaporeReal estate

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